Ms. Teresa Neto reports

GRANITE REIT DECLARES DISTRIBUTION FOR APRIL 2024

Granite Real Estate Investment Trust's board of trustees has declared a distribution of 27.5 cents per stapled unit for the month of April, 2024. The distribution will be paid by Granite REIT on Wednesday, May 15, 2024, to stapled unitholders of record at the close of trading on Tuesday, April 30, 2024.

Granite REIT confirms that no portion of the distribution constitutes effectively connected income for U.S. federal tax purposes. A qualified notice providing the breakdown of the sources of the distribution will be issued to the Depository Trust & Clearing Corp. subsequent to the record date of April 30, 2024, pursuant to U.S. Treasury regulation Section 1.1446-4.

About Granite Real Estate Investment Trust

Granite REIT is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite REIT owns 143 investment properties representing approximately 62.9 million square feet of leasable area.